Alberto Gimeno

Institutionalizing the Family Business: The Role of Professional Associations in Fostering a Change of Values

The authors examine the role played by a voluntary professional association as a carrier of mimetic and normative institutional pressures in the institutionalization of new governance practices among family businesses. They observe how a change in guiding values within family businesses is led by an institutional champion actively involved in the professional association. This institutional champion bridges the gap between micro-level change at the firm level and the professional association’s macro-level discourse. This study makes several contributions to both family business research and institutional theory.

Family business models

In this chapter we identify various types of family business, with the intention of enabling the reader to gain insight into his or her own family business by associating it with one particular type. We invite the reader to reflect on how his or her way of thinking affects the business and how he or she can drive it forwards in the future.

Family firms in Ibero-America: an introduction

Purpose This paper highlights the importance of understanding family firms in different contexts. The purpose of this paper is to reflect on the characteristics and behavior of family firms in Ibero-America, and their contribution and fit to the broader field of research. Based on the five articles in this special issue, this paper attempts to give an overview of their main contributions. Design/methodology/approach This paper explains in a contextual and analytical way the contributions of five papers that focus their attention on Ibero-American family firms, by linking them to the current research in the field and finding their fit within the broader field of family business. Tackling different topics, these five papers discuss about the comparison between family vs non-family businesses, innovation in family firms, and governance in family firms Findings Findings suggest that there is a need to stimulate research in family business in Ibero-America, especially Latin America, regarding family business dynamics, the different roles of the family within the enterprise, family governance, and the role of women. With regards to innovation the cultural and economic context play an important role in how they perform innovative activities. Originality/value This paper contributes to further understanding family firms by discussing the importance of the context and by linking all five papers with the broader literature in family business. The introduction also discusses topics worth to be further researched in Ibero-America.

Introduction What does this book offer those interested in the family business

What does this book offer those interested in the family business? This is a book about how to manage the family business, and our intention is to help the reader build better managed and more stable family firms. For this reason, we consider that it is recommended reading for all those with an interest in the family business: members of business families, members of senior management in family firms, consultants, scholars of the phenomenon, and indeed anyone simply interested in the subject.

Annex Details of structure

The structure of the family/business relationship should be modified by dealing with the various dimensions of management. Thus, by influencing these dimensions, we change the relationship between the family and the business.

Family business management formula

In this second chapter of the book we explain some of the fundamental concepts of our proposal, which are integrated into a management formula. Through this formula the reader will understand why one family business is different from another, and how with time his or her own family business gradually changes.

History of family business management

In this first chapter we will discuss the main milestones in the brief history of family business management, in an attempt to provide the reader with a better understanding of the approach we adopt and the contribution we wish to make through this book.

Family business management

In this chapter the reader will be able to decide his or her future strategy for the family business, by weighing up the possibility of remaining within the current model or evolving towards another more suitable family business model. In the event of opting to evolve, we suggest the appropriate process of strategic change.